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Personal loan
Advantage and disadvantage of loan
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[QUOTE="Kingsley, post: 225942, member: 30278"] Advantages and disadvantages of loans, well going by the advantages first, if we look closely at our economy very well today, you will see that a large scale of businesses mostly in small scale businesses and medium scale businesses are all depending on loans. When you take a survey on what is going on in the market you will realise that business men and women depend solely on loans. I am opportuned to work with a microfinance bank and I know exactly what these business people are passing through they depend heavily on loans to operate their business. And if we look at the definition of capital we will see that it is one of the major factor that determines what makes a business to start and to grow. Loans in most cases makes a business helps business men and women to be on their toes and this makes them to put in so much effort in making the business to work well. Because they know they are liable to the bank and hence they would not want be playful any behaviour with laxity in carrying out their business activities. The challenges or disadvantages of loans lies mostly in the area of the high interest rate and also in the area of the payback period which is usually short and does not give the business persons the opportunity to utilize the loans very well to generate enough profit. This has been a major concern for all those who access these loans. [/QUOTE]
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Advantage and disadvantage of loan
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